Sample Share Purchase And Share Holder Agreement Page 36
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77SCHEDULE I
LIST OF APPROVALS
SCHEDULE II
DATA ROOM DOCUMENTS
SCHEDULE III
DISPUTE RESOLUTION
(a)
Dispute resolution
Disputes which cannot be finally resolved by such Parties within 30 (thirty) calendar days
of the arising of a Dispute by amicable negotiation (each Party in good faith making its
best effort to reach a reasonable and equitable resolution of the matter) shall be
immediately referred for resolution by good faith negotiation between their respective
senior officers with decision-making power and who shall not have had substantive
involvement in the matters involved in the Dispute, unless the Parties otherwise agree. If
any such panel of senior officers is unable to resolve and settle the Dispute within 60
(sixty) calendar days after the Dispute is first submitted to it, then any Party shall be
entitled to cause the Dispute to be submitted for arbitration pursuant to the terms of
Clause (b) of this Schedule III.
(b)
Arbitration
Any Dispute which is not settled in accordance with paragraph (a) of this Schedule shall
be referred to arbitration in accordance with the provision of the Arbitration Act.
The Disputes shall be referred to a sole arbitrator if the Government and the Strategic
Partner agree upon a sole arbitrator. In the event a sole arbitrator cannot be agreed upon,
the arbitral tribunal shall comprise of three arbitrators, one to be appointed by each of
Government and the Strategic Partner and the third to be jointly appointed by the two
arbitrators appointed by the Parties.
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